Quantcast

Peoria Standard

Friday, November 22, 2024

Former state university employee Howell paid in $177K to pension fund, could collect $4.45M in retirement

Money 04

Former state university employee Ronald Howell, who retired in February 2016, saved $177,419 toward a pension over 32 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Howell would collect as much as $4.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Howell received $93,559 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Howell will have already received $189,925 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS